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  3. 1. 2. 3. for its first taxable year, rony...

1. 2. 3. For its first taxable year, Rony...

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Accounting

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For its first taxable year, Rony Inc.'s accounting records showed the following: Operating loss per books Temporary book/tax difference Net operating loss for tax $(800,000) 90,000 $(710,000) Required: a. Use a 21 percent rate to compute Rony's deferred tax asset with respect to the $90,000 book/tax difference. b. Use a 21 percent rate to compute Rony's deferred tax asset with respect to its $710,000 NOL carryforward. C. Compute Rony's tax benefit (negative tax expense) reported on its first income statement. Complete this question by entering your answers in the tabs below. Required A Required B Required C Use a 21 percent rate to compute Rony's deferred tax asset with respect to the $90,000 book/tax difference. Deferred tax asset $ 18,900

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